The Financial Stability Board (FSB) has released a new analytical framework and toolkit for assessing climate-related vulnerabilities in the financial system. As climate shocks become more frequent, concerns are growing over their potential to destabilise financial institutions and disrupt financial services.
The UK Financial Reporting Council (FRC) has reviewed the first round of mandatory Climate-related Financial Disclosures (CFD) from AIM-listed and large private companies, finding significant variation in quality. While companies have made efforts to comply, many disclosures lacked clarity, consistency, and depth.
The XBRL Standards Board (XSB) has approved two important updates to emerging new XBRL specifications.
The Financial Accounting Standards Board (FASB) has released a proposed Accounting Standards Update (ASU) as part of its ongoing effort to enhance the FASB Accounting Standards Codification®. Published last week, the proposal aims to make targeted, incremental improvements to US Generally Accepted Accounting Principles (GAAP).
Accountancy Europe has launched a CSRD transposition tracker, offering a comprehensive view of how EU Member States are implementing the Corporate Sustainability Reporting Directive (CSRD) into national law.
The US Securities and Exchange Commission (SEC) has rescinded its controversial Staff Accounting Bulletin (SAB) 121, by way of SAB 122. Last week’s bulletin eliminates the previous requirement for banks and financial institutions to record customer crypto holdings as liabilities on their balance sheets.
Taxonomy development can feel like a daunting task, but it doesn’t have to be. Last week, the team at XBRL International hosted a 30-minute webinar to share practical insights and guidance on getting it right.
The European Supervisory Authorities (EBA, EIOPA, and ESMA – the ESAs) have published a joint report assessing the feasibility of centralising ICT-related incident reporting by financial entities, as mandated by the Digital Operational Resilience Act (DORA). The report, published on 22 January, outlines three potential models for centralisation and examines their costs, benefits, and implications.
The European Central Bank (ECB) has launched its 2025 stress testing exercise, with a sharper focus on addressing data quality issues and overly optimistic projections from banks. Stress tests are critical for assessing resilience under adverse economic conditions, but past submissions have underestimated risks, prompting the ECB to tighten its approach.
Earlier this week Regnology, founded in Germany but with operations around the world, announced its acquisition of BR-AG, based in Poland. Both companies specialise in RegTech and SupTech solutions. The deal is aimed at expanding Regnology’s Regulatory Supervision Hub (RSH) capabilities and broadening its international presence.
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